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Ashtead Technology (AT) investor relations material
Ashtead Technology H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary26 Aug, 2025
Executive summary
Achieved 23% year-on-year revenue growth to £99.1 million in H1 2025, with adjusted EBITA up 20% to £27.0 million and a 27.3% margin, driven by both oil & gas and renewables markets.
Integrated Seatronics and J2 Subsea acquisitions, delivering higher-than-expected operational synergies and expanding capabilities.
Maintained robust profitability and record customer backlogs despite market and geopolitical headwinds, with delayed projects now mobilized.
Continued investment in talent, technology, and geographic expansion, notably in Norway and the U.S.
Move to the Main Market of the London Stock Exchange expected on 6 October 2025 to enhance liquidity and investor access.
Financial highlights
Revenue: £99.1 million in H1 2025, up 23.2% year-on-year.
Adjusted EBITA: £27.0 million (20% YoY growth), margin 27.3%.
Adjusted EPS grew 15% year-on-year to 21.9p.
ROIC at 24.2%, above cost of capital but down from prior year due to increased investment.
Net debt at end of June was £131.9 million, up due to CapEx and acquisition funding.
Outlook and guidance
Board expectations for full year remain in line with July trading update, with confidence in H2 growth as delayed projects have mobilized.
Medium-term outlook supported by 8% CAGR in addressable market through 2028.
U.S. offshore wind removed from forecasts due to political uncertainty; any activity will be treated as upside.
Free cash flow forecasted for the year, supporting deleveraging to 1.4x net debt.
Move to main market expected October 6th to enhance liquidity and investor access.
Future organic growth drivers beyond M&A
Mitigate US policy impact on Americas revenue?
Quantify Main Market move's capital access impact
Detail the unique value of integrated service offering.
How is Ashtead mitigating US offshore wind risks?
Capital allocation: M&A vs. shareholder returns?
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Next Ashtead Technology earnings date
H2 202524 Mar, 2026
Next Ashtead Technology earnings date
H2 202524 Mar, 2026
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Frequently asked questions
Ashtead Technology Holdings PLC is an integrated subsea technology company specializing in equipment rental solutions, advanced underwater technologies, and support services for the global offshore energy sector. The company operates across three main service lines: Survey & Robotics, Mechanical Solutions, and Asset Integrity. These services cater to the installation, inspection, maintenance, repair (IMR), and decommissioning of offshore energy infrastructure. Ashtead Technology's offerings include a broad range of specialist and engineering support in asset integrity, encompassing design, construction, installation, mechanical integrity, life of field inspection and maintenance, and risk analysis. Mechanical solutions provided by the company cover subsea coating removal and cleaning, cutting, dredging services, as well as remotely operated vehicles (ROV) and diver tooling, topside support, and additional project support packages. Their survey and robotics solutions span environmental, geophysical, geospatial, hydrographic, and metocean surveys, among others. The company is headquartered in the UK, and its shares are listed on the London Stock Exchange.
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